India’s electronic goods export rose 22.39% in 5 years
MeitY data shows increase in the electronic goods export and is expected to reach Rs 1.76 lakh crore in 2022-23
Parul March 16, 2023
MORE IN News
Tech spending in India poised to grow by 9.6% in 2023
World Backup Day: A reminder to backup your important data
New foreign trade policy aims to boost exports to $2 tn
Q4 of FY22-23 sees lowest IPO fundraising in 9 yrs: Report
CAIT seeks empowered regulatory authority to monitor & regulate e-commerce
India share in electronic goods export: Export of electronic goods from India increased from Rs 39,978 crore in 2016-17 to Rs 1,09,797 crore in 2021-22, showing a compound annual growth rate (CAGR) of 22.39 per cent.
According to data released by the ministry of electronics and IT, the country’s electronics export is expected to reach Rs 1.76 lakh crore in 2022-23.
The global exports of electronic goods from major manufacturing economies (including China, Vietnam, Mexico, Taiwan, Korea, Japan, the US and Germany) is approximately $1.5 trillion out of the global exports of $2.5 trillion, which includes a lot of re-exports.
India’s share of global exports has increased from 1.2 per cent in 2021-22 to approximately 1.8 per cent in 2022-23.
As per the data, the domestic production of electronic items is expected to reach Rs 8.42 lakh crore in 2022-23 as against Rs 6.40 lakh crore in 2021-22.